Real Estate News

Once-in-a-Generation Mixed use Development Underway in Cedar Park

The Nebraska Furniture Mart project, spanning 118 acres, located north of Austin, is making significant progress as stakeholders collaborate to bring this "once-in-a-generation" development to Cedar Park.

CPM Development LLC, affiliated with Warren Buffet's Nebraska Furniture Mart, submitted documents to the Texas Department of Licensing and Regulation last week. These documents indicate that construction for commercial and public improvements at the site, situated at 750 E. New Hope Drive, could commence early next year, with the project expected to be fully completed by 2026. Although the filings mention two prospective tenants—Scheel's, a sporting goods chain from North Dakota, and PopStroke, a golf and dining concept featuring miniature golf courses designed by Tiger Woods—representatives from the developer have clarified that the information...

Austin's Real Estate Market Continues to Normalize

Photo above is Culhane Premier Properties' current listing, 9901 Bundoran Dr. 

The Austin real estate market has long been a hotbed of activity, drawing attention from buyers and investors alike. In recent years, Austin's unprecedented growth and skyrocketing housing prices have made headlines. However, there are indications that the market is entering a phase of normalization. In this blog post, we will explore the evolving trends in the Austin real estate market and how it is gradually moving towards a more balanced and sustainable state.

The Shift in Price Growth:
One of the key signs of the Austin real estate market normalizing is the shift in price growth. While the city has experienced double-digit appreciation rates in...

More Homes on the Market Act

The "More Homes on the Market Act" is a proposed legislation introduced by California Representative Jimmy Panetta and Mike Kelly from Pennsylvania.This act aims to increase the amount of money homeowners can exclude from declaring on their taxes when they sell their homes.

Under the current law, known as the Internal Revenue Code Section 121, homeowners can exclude up to $250,000 in capital gains from the sale of their home if they are single filers, and up to $500,000 if they are joint filers. These exclusion limits have been in place since 1997 and have not been adjusted for inflation in the intervening years.

The proposed legislation seeks to double these exclusion limits, allowing single filers to exclude $500,000 in gains and joint filers to exclude $1 million. In addition, the legislation includes a provision to index...

4 Reasons why NOW is the time to buy a home

Over the past year, the Austin housing market has returned back to a buyers market after months of seller advantages including low inventory, multiple offer situations, and record-low mortgage rates following the 2020 pandemic. Buyers that were previously on the fence about purchasing a home under those conditions are now offered an opportunity to take advantage of the current market conditions and purchase a property. Inventory is steadily increasing, home prices are still increasing but at a more sustainable rate, and mortgage rates recently dipped to the mid 6’s during the first week of 2023. 

Here are 4 top reasons why NOW is the time to buy: 

  1. It’s a true buyer’s market
  2. Little-to-no multiple offer situations
  3. Mortgage rates continue to stabilize after...

ABOR April 2021 Stats

      Year over year statistics for April from Austin Board of Realtors.

Homes last month spent less time on the market. New listings are up but active listings are down. Prices continue to increase significantly. The median sales price is up 42% and closed sales are up 37% compared to last April. 

The booming Austin-area housing market continues to be strong in April, with double-digit growth in both home sales volume and median price growth. The Austin Board of REALTORS® April 2021 Central Texas Housing Report is the first market report to provide a direct comparison to the housing market during the COVID-19 pandemic....

What type of market are we in? Is it still a sellers’ market?

“Although the winter storms slowed activity in February, this does not indicate a market slowdown. We’re still very much in a sellers’ market,” This according to Susan Horton, 2021 ABoR president, said. “Across the region, a high quantity of offers, cash offers, and requests to waive appraisals or option fees are increasingly commonplace. Transaction contracts are complex with negotiations that require the expertise of a REALTOR® to navigate.”

The year over year statistics show the continued boom. The median sales price in the Austin area is up 22% this month at $395,000. The homes closed are at 2,389, which is down 8%. This is mainly due to the snowstorm. Homes spent half the time on the market at an average of only 31 days. Pending sales, new listings, and active listings are all down which all adds up to decreased inventory....

December 2020 Central Texas Housing Market Report

Austin-Round Rock MSA closes year with record-breaking $17B housing market 

“The Central Texas housing market is incredibly competitive and moving at lightning speed right now,” Susan Horton, 2021 ABoR president said. “The complexity of a home sale is at an all-time high as it has become commonplace for homes to receive multiple offers well over list price. Whether you’re a homebuyer or a home seller, it is more important than ever to work with a REALTOR® who deeply understands your local area and can navigate the near-zero inventory market on your behalf.”

“The Austin-area real estate market is experiencing extraordinarily high demand fueled by years of high population growth and employment gains, lifestyle changes...

Central Texas Housing Market Continues To Soar Despite Low Inventory

The ABoR Central Texas Housing Market reports continued strength across the five-county area in the month of September. Sales dollar volume jumped 51.7% (now up to $1,779,067,529) and the median price rose 12.1% to $355,000. The number of new listings has increased 5%, pending sales increased over 28%, while inventory for active listings decreased almost 50% compared to last year.

Homes are currently seeing an average of 37 days on market, (2 weeks fewer compared to 2019). Historically this time of year shows a slow down in real estate activity, but with the covid-19 impact pushing back the spring market, summer selling season extended into September and beyond.

“The housing market is pumping billions of dollars into our region’s economy at a time it’s greatly needed, but we also need to be cognizant of the impact such rapid activity is having...

Fall is the New Spring for Real Estate

Austin remains one of the nation’s fastest growing cities with an average of 169 people moving to metroplex daily. Growing by more than 60,000 new residents per year, the Austin real estate market remains extremely low on inventory, making it a great time to take advantage of the seller’s market! As we move into Fall, we see no signs of our market slowing down. If you are thinking of selling, NOW IS THE TIME!

This summer alone (June 1-Sept. 21), waterfront property sales on Lake Austin, Lake LBJ, and Lake Travis have increased over 66%, even with the covid-19 impact. All 3 lakes saw an increase of waterfront sales price & saw equal or fewer average days on market.  

            Lake Austin saw sales prices increase over 69% compared to the previous year, with a...

Spring 2020 Real Estate Market Update

2020 Is Predicted to be Another Record Breaking Year

Below is an excerpt of the Austin Board of Realtors February Press Release

Compared to January 2019, residential home sales in the Austin area increased 8.5% to 1,947 sales, and the median price increased 4.8% to $308,000, setting a record for the month of January. Housing inventory–which fell to 1.6 months–was driven to critically low levels across the [area] due to drops in both new and active listings. At the same time, increases in pending sales activity in January could signal further declines in inventory in the year ahead amidst strong housing demand.

Romeo Manzanilla, 2020 ABoR president, said. “We expect to see a significant increase in activity in the spring, when market activity should climb naturally.”